We Love Animals
Lifestyle

CEO At 13, 2 Companies At 17, $1 Million This Year, Young Man Ready To Make More

The 17-year-old Korean Sukone Hong has been the CEO of a Korean fashion brand hitting $1 million in sales and won the recognition of Harvard University.

Source: CNBC

Besides, this young man also invented a braille smartwatch for the blind, which has now received thousands of orders.

Starting as a fashion brand CEO

Source: Olaga

Four years ago, Hong started his entrepreneurial journey when he was in 8th grade. Struggling to integrate with classmates at his school in Seoul, Hong had to entertain himself by reselling his brand stuff on Naver. However, the money from this business form quickly “vanished” from his pocket. Sukone realized he had to change his strategy.

He used a $5,000 loan from his grandparents, and with the help of a printing business, set out to create his own clothing website, offering unisex apparel with simple, playful designs. From that moment, Olaga Studios was born.

Source: Olaga Official

The first week, nothing happened, Hong said. “Then on Monday morning there were about 15 orders, increasing to 50 at lunch, then 80 later that night. In that week I sold 300 shirts.”

Since then, the three-year-old brand has become a regional success, raking in $1.2 million in annual revenue across 6 Asian markets and ranking #1 in Style Share’s t-shirt category – the leading platform for people interested in fashion and beauty.

This success allowed Hong to hire a team of 12 to help run the website, while also paying his parents back for tuition at the American International School in Seoul. Since then, Sukone said he found inspiration in his latest business.

Continuing to offer solution to the disabled

Source: Paradox Computer

“In the past, I thought business was just to make a lot of money, but after transferring schools I have access to a good education,” Hong said. “The teacher said that my experience could be used to create a business to help others,” he explains.

Sukone aims to do this through the founding of Paradox Computers, which produces Braille smartwatches. This product allows visually impaired people to receive information in real time, such as texts and messages from their phones. This type of watch has been on the market for the past few years but has exorbitant prices, often up to $300, making them inaccessible to many disabled people.

After working on a school project on the disabled, Sukone realized the inequality and decided to have a more reasonable alternative.

“I don’t think this world is fair. At the same time it’s a good opportunity to do business,” he shared and began to research the market, talking to the visually impaired to know their needs and the engineers offering a solution. He also invested $300,000 for a 30% stake in the company.

“Despite having no background in technology, my previous job as a fashion executive allowed me to hire the right people,” he said.

Six months later, Paradox Computers’ $80 braille smartwatch has had 3,000 pre-orders from China.

On the way to make more

Despite his successful business, Hong said he still committed to pursuing his education.

“When the business was growing rapidly, I thought about dropping out of school. But I met a lot of CEOs and they all told me that I should go to university,” he said.

And who knows, as a guest speaker and mentor at Harvard and Stanford, it may just be worth the effort.

H/T: cnbc.com

Related posts

Discover What Is In Aries’s DNA Through Hillarious Memes

Margot Nolan

Can’t Stop Laughing At 15 Hilarious Times Of Sagittarius And Their Friends

Margot Nolan

Who Is Mrs Thornhill Wednesday? Comprehensive Explanation

Claudia

13,500-Year-Old Miniature Bird And The Shrouded Mystery Behind

Larry

Cats Left Outside Pet Store With Note: “Understand Before You Judge”

Carolyn Mullet

NASA Captures Evidence Of The Planet That Looks Like Earth 2 Billion Years Ago

Larry

Brave Stray Mother Dog Risks Her Life To Save Her Puppy Stranded In Floodwaters

Carolyn Mullet

Can’t Stop Laughing At The Memes Showing Gemini And Boredom Are Archenemies

Margot Nolan

16 Unique Moments That Make You Say “It Can Only Be Capricorn”

Margot Nolan

Take No More Than 15 Minutes To Become Hollywood Stars With These Easy Beauty Tips

Susanna

Best Collection That Tells The Biggest Fears And Insecurities Of An Aries

Margot Nolan

World’s Largest Underwater Caverns Filled With Mayan Mysteries Discovered

Larry

5,000-Year-Old Megalithic Stonehenge-Like Monument Found In Eastern Europe Country!

Larry

10+ Humorous Memes of Zodiac Signs With Tom and Jerry Version

Annie

List Of Taylor Swift Grammy Nominations 2023 Is ZERO

Claudia

Grave Of Left-Handed Viking Soldier Discovered In Norway

Larry

Funny Memes That Speak Zodiac Signs’ Minds When Their Crushes Suddenly Say Hi

Margot Nolan

Twitter CEO Jack Dorsey steps down, avoiding following in Bill Gates’ footsteps

Larry

Excavations In Russia Revealed A Hebrew Seal

Larry

Chinese Enterprises Are About To Be “Eliminated” From The US Stock Market?

Larry

China unexpectedly finds out 12 million children from no where

Jonathan

A Fair-Haired Race With Blue Eyes Built The Prehistoric Metropolis Of Ipiutak, Not Humans

Larry

What Makes You Cry According To Your Zodiac Signs, Showing In 16 Memes

Margot Nolan

Funny Memes That Accurately Describe 12 Zodiac Signs Around Their Best Friends

Olivia

Viking Knights, Polish Days

Larry

Baobab: Africa’s Iconic Tree Of Life In The Heart Of Africans And Folk Remedies

Larry

Battle Of Visby: Harrowing Remains Of Fallen Soldiers Left Behind Medieval Massacre

Larry

Little Girl Sends Letter To Her Cat In Heaven And Gets Sweetest Reply From Postman

Carolyn Mullet

16 Amazing Times The Zodiac Signs Impress People With Their Special Talents

Margot Nolan

10+ Relatable Zodiac Sign Memes That You Will Love

Annie

“Swallowing” Foreign Gray Matter, China Dominates The Technology That Worries The US

Larry

12 Zodiac Signs And The Art Of Flirting

Olivia

Leos Are Sharing Their Conflicts In Mind, And They Are So Funny

Margot Nolan

This Real-Life Batman Doesn’t Save The World, He Saves The Lives of Shelter Pets

Carolyn Mullet

Father Donates One Kidney To His Little Daughter To Save Her From Polycistic Kidney Disease (PKD)

Margot Nolan

Explore Funny Moments When 12 Zodiac Signs Are Home Alone

Margot Nolan

When Does The Walking Dead Finale Air? Updated News

Claudia

Become Famous And Earn A Lot Of Money By “Doing Nothing”

Larry

This couple has 8 incomes with the total worth $3 million annually. What’s the secret?

Jonathan

Prehistoric Cave Man Discovered Frozen In The Himalayas

Larry

Steve Jobs’ last letter: 5 truths we have to accept, 6 best doctors in the world

Robert

Disclose 19 Hilarious Facts About Your Virgo Bosom Friend

Margot Nolan